Globally, 593GW of solar capacity could be added in 2024. Image: EDF Renewables

A new report from climate and energy think tank Ember has revealed that globally, 593GW of solar capacity will likely be installed by the end of this year.

If these forecasts are met, the world will have added 29% more capacity than it did the previous year, despite global capacity growth surging by 87% in 2023. Up to July this year, it is estimated that 292GW of solar capacity has been installed in 2024.

For most ries around the world, including the UK, the amount of installed capacity added so far in 2024 has been higher than the same period in 2023, with the UK adding around 1.1x the capacity of the previous year.

Most ries have picked up the pace for installing solar. Source: Ember

According to statistics released by the Department for Energy Security and Net Zero (DESNZ) at the end of August, the UK now has a total installed solar capacity of 17GW, a 7.5% (1.2GW) increase since July 2023. July 2024 saw 70MW of new solar capacity installed across the UK, the highest monthly total so far this year.

While the majority of UK solar PV installations are small-scale domestic installations, these only ac for 30% of the UK’s total installed solar capacity. June 2024 saw 77% of new UK solar installations be domestic, adding 51MW of solar capacity.

The UK’s solar capacity has now hit 17GW. Source: DESNZ

Ember’s analysis reveals that the UK is showing modest growth in solar installations, with the UK seeing growth of 11% of installed capacity year-on-year, matching Germany’s pace of solar capacity growth.

Notably, many forecasts of global solar power installations by international analysts have been revised multiple times in the past 18 months, as the rate of solar installations repeatedly beats even the most optimistic forecasts. In fact, the 593GW of additional capacity estimated by Ember based on this year’s pace of additions so far is almost 200GW higher than predictions made by the International Energy Agency (IEA) at the start of 2024.

Global solar installations are beating even the most optimistic forecasts. Source: Ember.This content was collected from the Internet. If you want to it, please contact grace solar management.